A law firm issued a public apology in newspapers to Indiabulls Housing Finance for "false and sensational allegations" made against it. "We now realize...incorrect facts in the complaints/petitions caused serious financial & reputational loss to Indiabulls, its promoters, directors, officials and shareholders," Managium Juris said. It earlier alleged that Indiabulls misappropriated ₹98,000 crore.